Common use of Tax Restoration Payment Clause in Contracts

Tax Restoration Payment. In the event it is determined that any payment or distribution of any type to or for the benefit of the Executive, pursuant to this Agreement or otherwise, by the Company, any person who acquires ownership or effective control of the Corporation, or ownership of a substantial portion of the assets of the Corporation (within the meaning of section 280G of the Internal Revenue Code of 1986, as amended (the "Code"), and the regulations thereunder) or any affiliate of such Person (the "Total Payments") would be subject to the excise tax imposed by section 4999 of the Code or any interest or penalties with respect to such excise tax (such excise tax, together with any such interest and penalties, are collectively referred to as , the "Excise Tax"), then the Executive shall be entitled to receive an additional payment (a "Tax Restoration Payment") in an amount such that, after payment by the Executive of all taxes (including any interest or penalties imposed with respect to such taxes), including any Excise Tax, imposed upon the Tax Restoration Payment, the Executive retains an amount of the Tax Restoration Payment equal to the Excise Tax imposed upon the Total Payments.

Tax Restoration Payment. In the event it is determined that any payment payment, benefit or distribution made under Section 16(a) of any type this Agreement to or for the benefit of the Executive, pursuant to this Agreement or otherwise, Executive by the Company, any person who acquires ownership or effective control of the CorporationCompany, or ownership of a substantial portion of the assets of the Corporation Company (within the meaning of section 280G of the Internal Revenue Code of 1986, as amended (the "“Code"”), and the regulations thereunder) or any affiliate of such Person person (the "“Total Payments"”) would be subject to the excise tax imposed by section 4999 of the Code or any interest or penalties with respect to such excise tax (such excise tax, together with any such interest and penalties, are collectively referred to as as, the "“Excise Tax"”), then the Executive shall be entitled to receive an additional payment (a "“Tax Restoration Payment"”) in an amount such that, after payment by the Executive of all taxes (including any interest or penalties imposed with respect to such taxes), including any Excise Tax, imposed upon the Tax Restoration Payment, the Executive retains an amount of the Tax Restoration Payment equal to the Excise Tax imposed upon the Total Payments.

Tax Restoration Payment. In the event it is ----------------------- determined that any payment payment, benefit or distribution made under Section 12(a) of any type this Agreement to or for the benefit of the Executive, pursuant to this Agreement or otherwise, Executive by the Company, any person who acquires ownership or effective control of the CorporationCompany, or ownership of a substantial portion of the assets of the Corporation Company (within the meaning of section 280G of the Internal Revenue Code of 1986, as amended (the "Code"), and the regulations thereunder) or any affiliate of such Person person (the "Total Payments") would be subject to the excise tax imposed by section 4999 of the Code or any interest or penalties with respect to such excise tax (such excise tax, together with any such interest and penalties, are collectively referred to as as, the "Excise Tax"), then the Executive shall be entitled to receive an additional payment (a "Tax Restoration Payment") in an amount such that, after payment by the Executive of all taxes (including any interest or penalties imposed with respect to such taxes), including any Excise Tax, imposed upon the Tax Restoration Payment, the Executive retains an amount of the Tax Restoration Payment equal to the Excise Tax imposed upon the Total Payments.

Tax Restoration Payment. In the event it is ----------------------- determined that any payment payment, benefit or distribution made under Section 12(a) of any type this Agreement to or for the benefit of the Executive, pursuant to this Agreement or otherwise, Executive by the Company, any person who acquires ownership or effective control of the CorporationCompany, or ownership of a substantial portion of the assets of the Corporation Company (within the meaning of section 280G of the Internal Revenue Code of 1986, as amended (the "Code"), and the regulations thereunder) or any affiliate of such Person person (the "Total Payments") would be subject to the excise tax imposed by section 4999 of the Code or any interest or penalties with respect to such excise tax (such excise tax, together with any such interest and penalties, are collectively referred to as , the "Excise Tax"), then the Executive shall be entitled to receive an additional payment (a "Tax Restoration Payment") in an amount such that, after payment by the Executive of all taxes (including any interest or penalties imposed with respect to such taxes), including any Excise Tax, imposed upon the Tax Restoration Payment, the Executive retains an amount of the Tax Restoration Payment equal to the Excise Tax imposed upon the Total Payments.